UOB prices planned A$900m floating rate notes at 0.72% per annum

Its maturity date will be five years from the date of issue.

United Overseas Bank (UOB) has announced that its Sydney Branch will issue A$900m floating rate senior unsecured notes due 2027, priced at 0.72% per annum.

The planned notes will use the three-month Bank Bill Swap Reference Rate and will pay quarterly in arrear. Its maturity date will be five years from the date of issue.

The notes will be issued under the UOB’s US$15b Global Medium Term Note Programme (GMTN Programme). 

Australia and New Zealand Banking Group, Commonwealth Bank of Australia, and United Overseas Bank Limited have been appointed as the joint lead managers and bookrunners for the notes.  

UOB expects the notes to be rated Aa1 by Moody’s Investors Service, AA- by Standard &  Poor’s Rating Services and AA- by Fitch Ratings.